Market diversification is path to increased farm exports, say trade officials
U.S. food and ag exports are concentrated in four markets that generate nearly $6 of every $10 in sales, said two senior U.S. ag trade officials on Thursday. To expand sales volume, they said at a trade group meeting, new customers must be developed in countries that have been off the export radar in the past.
USDA pumps $2.3 billion into export promotion and food aid
Facing a back-to-back decline in food and ag exports, Agriculture Secretary Tom Vilsack said on Tuesday the USDA would provide an additional $1.3 billion to build overseas demand for U.S. products and an additional $1 billion for global hunger relief. The USDA currently spends a combined $2.5 billion a year on those objectives.